topic Re: Potential Kia Buy in Auto Loans

Potential Kia Buy

babbles — Tue, 14 Sep 2021 03:22:55 GMT

Wanted to see what some of you think of a 2014 kia forte LX I was looking at purchasing from a dealership in my area(not a kia dealership). They want $11980 and I pulled up the original (duplicate) sticker off moneylabels and it says the vehicle sold for $17500 MSRP and after some standard options final price was $18490. I pointed this out to the salesman, as he asked me what I was thinking as far as pricing. It has 61k miles and some scuff marks on the front right fender wall. I told him i would want to be out the door at 11k. What do you think? Was I asking for too much?? It appears in good shape but the acutal kia dealer is foot steps from this dealer which has a 3 day return policy,. I would take it to kia to get an inspection on it within those three days even if i did buy it.

Also, just quick math in my head says the "kia" has held over 60% of its original value after 8 years, does that sound right to you?

He said I would be out the door @ 14k , 14.5k

Re: Potential Kia Buy

CreditCuriosity — Tue, 14 Sep 2021 03:27:01 GMT

Suggestion is pull it up on NADA website what a fair price is for said car/mileage and guesstimate condition will give you retail and trade-in price, etc to get an idea. Also other sources obviosly exists such as KBB and others

Re: Potential Kia Buy

babbles — Tue, 14 Sep 2021 03:52:38 GMT

I based my price on KBB, top end pricing was 9.2k

Re: Potential Kia Buy

CreditCuriosity — Tue, 14 Sep 2021 04:06:44 GMT

Ya seems really really high to me for an older car with that many miles personally. Yet the used car market is out of whack due to covid and other factors at the same time. Certainly not worth 14k. Only you can be the judge of value, but do your research.

Re: Potential Kia Buy

Brian_Earl_Spilner — Tue, 14 Sep 2021 04:15:22 GMT

14k out the door seems high. Tax, docs, and lic is usually 10% here.

Re: Potential Kia Buy

4sallypat — Tue, 14 Sep 2021 13:57:24 GMT

Agree with @CreditCuriosity 61K miles on a 7 year old car is way too much they are asking for on a Kia.

If you can't wait then make your best offer.

If you can wait, the crazy automotive world is upside down and will not turn itself around till maybe next year...

I am not able to get out of my current leased Honda ($285 / month) because current inflated pricing, high MF (interest rate), and dealer markups on the same newer model at a crazy $450/mo.

So I am going to buy it out and finance it for 3 years at my CU to avoid the super high prices now...

Thinking of the warranty, I have 7 years remaining so it makes sense to keep her.

At least at the end, I will own a fairly high resale car....

Re: Potential Kia Buy

dunn2500 — Wed, 15 Sep 2021 03:53:34 GMT

you can buy a new chevy volt for that price.....maybe not the car you want but its brand new with factory warranty......used cars are ridiculous right now....shop economy new ones

Re: Potential Kia Buy

babbles — Thu, 16 Sep 2021 13:43:33 GMT

Why is it ridiculous now? because of covid?

Re: Potential Kia Buy

sccredit — Thu, 16 Sep 2021 14:48:30 GMT

@babbles wrote:
Why is it ridiculous now? because of covid?

Shortest answer: supply chain issues.

Longer answer: there is currently a global chip shortage that has hit all of the automakers very, very hard. There are additional supply chain shortages hitting now that are worsening the issues. Depending on who's opinion it is this shortages can last into 2022 or into 2023.

Re: Potential Kia Buy

dunn2500 — Thu, 16 Sep 2021 18:46:37 GMT

short answer:

supply and demand

many newer used cars are same price as new ones

Re: Potential Kia Buy

babbles — Thu, 16 Sep 2021 21:51:28 GMT

I walked the same night but now he's calling me back, he seemed very insulted when I said 11k out the door

Re: Potential Kia Buy

disdreamin — Thu, 16 Sep 2021 22:09:46 GMT

@babbles wrote:
I walked the same night but now he's calling me back, he seemed very insulted when I said 11k out the door

Block-ity block block that number. If they are desperate to sell, my bet is there's a reason no one else has bought that vehicle and it isn't one you will like finding out about as the new owner. $$$$

Re: Potential Kia Buy

Gmood1 — Fri, 17 Sep 2021 18:49:29 GMT

@babbles wrote:
I walked the same night but now he's calling me back, he seemed very insulted when I said 11k out the door

Yeah, wouldn't worry about insulting these guys.

Just remember they aren't doing you any favors. You're the one taking on debt.

Don't go by the MSRP. It means nothing. In reality, this vehicle is worth maybe $6k tops. I understand they have to make money. But sometimes these used car dealers can get a little, maybe a lot carried away 😆

You might as well buy a new one at or below invoice. Atleast the finance rate will be better compared to a 7 year old vehicle.

Re: Potential Kia Buy

jcooks — Thu, 23 Sep 2021 15:10:18 GMT

There are still some dealers that are able to go below MSRP, but it is much much more difficult. I am picking up a new Nissan tomorrow and had to expand my search to within 100 miles from me. Most dealers in my area had less than a dozen new vehicles in their inventory. What made it 3x as hard is that Hurricane Ida swept my area and totalled a lot of vehicles. My GF lost her vehicle and my parents did also. But you just have to do some legwork to find the ones that want to do a deal. Then you have some dealers that flat out told me we sell 3k above sticker. Those are the ones you want to avoid as they know that supply is much lower than demand right now, they can get that price. If they don't sell to you, they will sell to the next one that walks in the door.